NORCROSS, Ga., June 06, 2017 (GLOBE NEWSWIRE) -- Galectin Therapeutics, Inc. (NASDAQ:GALT), the leading developer of therapeutics that target galectin proteins, today announced that the Company has been issued U.S. Patent 9,649,327 for "Composition of Novel Carbohydrate Drug for Treatment of Human Diseases." The patent's principal claims cover method of use for GR-MD-02 in patients with an autoimmune disease. The patent coverage extends through 2032. Patent coverage for autoimmune disease extends the already robust U.S. and international patent portfolio for GR-MD-02. Granted patents include composition of matter, process of manufacture, and method of use. The breadth of coverage for the patent portfolio includes; various types of organ fibrosis (liver, lung, kidney), non-alcoholic steatohepatitis, kidney disease, and cancer, including combination cancer immunotherapy.
GR-MD-02, a proprietary polysaccharide pharmaceutical preparation that inhibits galectin proteins, is currently in a Phase 2b clinical trial in subjects with NASH cirrhosis and is in preclinical testing for lung, kidney and cardiovascular fibrosis. GR-MD-02 is also being studied in two phase 1b clinical trials at Providence Portland Medical Center in advanced melanoma, oral neck and head cancer and selected lung cancer patients in combination with Keytruda® and Yervoy®. Additionally, GR-MD-02 is being studied in two Phase 2a trials in patients with severe skin diseases, including moderate-to-severe plaque psoriasis and atopic dermatitis.
"Our patent portfolio is an important asset for Galectin Therapeutics. Each patent and patent application is a strategic building block which reflects present and future business objectives and protects current core technology," said Peter G. Traber, M.D., chief executive officer and chief medical officer of Galectin Therapeutics and inventor on the patent. "This method of use patent protects the use of GR-MD-02 in the general category of autoimmune disease which covers multiple types of human diseases and strengthens our other patents. Galectin Therapeutics has multiple additional US and international patent applications pending."
About Galectin Therapeutics
Galectin Therapeutics is developing promising therapies for the treatment of fibrotic liver disease, skin diseases, and cancer based on the Company's unique understanding of galectin proteins, which are key mediators of biologic function. Galectin seeks to leverage extensive scientific and development expertise as well as established relationships with external sources to achieve cost-effective and efficient development. The Company is pursuing a development pathway to clinical enhancement and commercialization for its lead compounds in liver fibrosis and cancer. Additional information is available at www.galectintherapeutics.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or future financial performance, and use words such as "may," "estimate," "could," "expect" and others. They are based on management's current expectations and are subject to factors and uncertainties that could cause actual results to differ materially from those described in the statements. These statements include those regarding the hope that Galectin's development program for GR-MD-02 will lead to the first therapy for the treatment of fatty liver disease with cirrhosis and those regarding the hope that our lead compounds will be successful in connection with cancer immunotherapy. Factors that could cause actual performance to differ materially from those discussed in the forward-looking statements include, among others, that Galectin may not be successful in developing effective treatments and/or obtaining the requisite approvals for the use of GR-MD-02 or any of its other drugs in development; the Company's current clinical trial and any future clinical studies may not produce positive results in a timely fashion, if at all, and could prove time consuming and costly; plans regarding development, approval and marketing of any of Galectin's drugs are subject to change at any time based on the changing needs of the Company as determined by management and regulatory agencies; regardless of the results of any of its development programs, Galectin may be unsuccessful in developing partnerships with other companies or raising additional capital that would allow it to further develop and/or fund any studies or trials. Galectin has incurred operating losses since inception, and its ability to successfully develop and market drugs may be impacted by its ability to manage costs and finance continuing operations. For a discussion of additional factors impacting Galectin's business, see the Company's Annual Report on Form 10-K for the year ended December 31, 2016, and subsequent filings with the SEC. You should not place undue reliance on forward-looking statements. Although subsequent events may cause its views to change, management disclaims any obligation to update forward-looking statements.
Galectin Therapeutics and its associated logo is a registered trademark of Galectin Therapeutics Inc.
Galectin Therapeutics, Inc.
Jack Callicutt, Chief Financial Officer
Source: Galectin Therapeutics
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